Revenue up for organic food company

07-Nov-2001
- Last updated on
18-Jul-2008 at 18:58 GMT

US organic food company, The Hain Celestial Group this week
announced that for the first quarter of fiscal 2002, ended
September 30, 2001, revenues increased to $104.9 million, a 13.5
per cent increase on a comparable basis over the first quarter of
2001.

US organic food company, The Hain Celestial Group this week
announced that for the first quarter of fiscal 2002, ended
September 30, 2001, revenues increased to $104.9 million, a 13.5
per cent increase on a comparable basis over the first quarter of
2001.
Net income for the quarter totalled $5.4 million, or $0.16 per
share on a diluted basis. EBITDA in the quarter was $11
million.
Irwin D. Simon, Chairman, President and Chief Executive Officer of
The Hain Celestial Group said, "The September 11 tragedy
significantly disrupted our distribution network in the Northeast
corridor, and caused delays in certain other areas, including the
temporary closure of our Terra plant in Brooklyn. Difficulties
arising from the terrorist attack adversely impacted our sales for
the quarter by $5-7 million, which we believe affected our earnings
by $0.03-0.04 per share."​
Mr. Simon continued, "The direct impact of these events on our
business should not obscure the strong, double-digit growth of many
of our rocket brands this quarter. Terra, Health Valley, Garden of
Eatin' and Westsoy were all up double digits in either sales or
units. Celestial Seasonings teas also reported solid growth of 8
percent. In October, our new Terra facility in Moonachie, New
Jersey, began trial runs. After successful certification of the
facility, today we began manufacturing product for
shipment."​
Hain Celestial also announced that it has signed a letter of intent
to acquire Lima NV, a leading Belgian manufacturer and marketer of
natural and organic foods, founded in 1957. Lima also distributes
fresh organic produce to Belgian supermarkets from its Biomarche
operations. In its current fiscal year, Lima's and Biomarche's
combined revenues are expected to exceed $20 million. Terms of the
transaction were not disclosed.